Solana

Solana is an open source project implementing a new, high-performance, permissionless blockchain. Solana is a general purpose blockchain similar to Ethereum. End user applications as of now include decentralized finance (DeFi), non-fungible tokens (NFT), marketplaces, games, and more. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Solana co-founder Anatoly Yakovenko published a whitepaper describing Proof of History, a technique that would become critical to Solana's blockchain infrastructure, in Nov. 2017. 

Co-founder Greg Fitzgerald, who had worked with Yakovenko at Qualcomm, began prototyping the open source implementation of the whitepaper. It was published under the name Silk in 2018. 

After starting the company under the name Loom, Yakovenko, Fitzgerald, and other co-founders rebranded to Solana. Solana launched on Mainnet Beta in March 2020.

Solana was built to facilitate the development of scalable, user-friendly decentralized apps with low costs and high speeds for transactions.

Solana believes its unique blockchain architecture that combines the proof-of-stake consensus mechanism and its own proof of history mechanism is the key to achieving these goals.

Proof of history works almost like a cryptographic timestamp that proves that an event has occurred at a specific time. It enables the blockchain to work fast while maintaining security and decentralization.

There are about 304 million SOL in circulation as of November 2021. Solana has an initial inflation rate of 8%, which will decrease by 15% a year until it reaches a long-term inflation rate of 1.5%. SOL is Solana’s native token.

Solana competes with other blockchain platforms such as Ethereum and Avalanche to host crypto projects such as NFTs, decentralized exchanges, and gaming. 

Developers and users flocked from Ethereum to Solana due to high transaction costs, but many could gravitate back towards Ethereum if it manages to lower costs, which could happen as a result of the Ethereum 2.0 upgrade and layer 2 rollups. 

Solana.com
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Ethereum

Polygon

Stripe, the fintech giant, has decided to re-enter the cryptocurrency payment space after a six-year hiatus, starting with USDC stablecoins on the Solana, Ethereum, and Polygon blockchains.

Stripe Re-Enters Crypto Payments With USDC on Ethereum, Polygon, and Solana

Pantera was among the investors who won the bids for solana tokens at the FTX estate's auction, Bloomberg reported.

Pantera acquires additional discounted Solana tokens in FTX bankruptcy auction: report

Bitcoin

Nubank, a Brazilian neobank, has introduced new features for its cryptocurrency customers. The Sao Paolo-based organization recently enabled deposits and withdrawals of bitcoin, ether, and solana in its cryptocurrency service, broadening the use cases of its platform. Before, the company only allowed users to purchase, hold, and sell cryptocurrency assets.

Brazilian Neobank Nubank Introduces New Crypto Wallet Features for Bitcoin, Ether and Solana

Payments giant Stripe has announced its return to the cryptocurrency space.

Stripe Enables Merchants To Accept USDC Payments on Ethereum, Solana and Polygon

Ex-Goldman Sachs executive Raoul Pal says the altcoin market cap is on the verge of soaring to new all-time highs (ATHs). In a new video update, the Real Vision CEO says that the digital assets market could enter “crypto summer” within a month, when Ethereum (ETH), Solana (SOL) and other alts could have massive rallies.

Ethereum, Solana and Altcoins Approaching ‘Banana Zone,' According to Macro Guru Raoul Pal – Here's His Outlook

Solana Saga Chapter 2 pre-orders could have their price offset by new MEW and MANEKI airdrops.

Solana ‘Chapter 2' Airdrops Could Cover the Price of the Phone

A decade after an early attempt to support Bitcoin payments, the company sees a stablecoin-powered future.

Payments Giant Stripe Reenters Crypto With USDC on Ethereum and Solana

Solana (SOL) decentralized exchange (DEX) aggregator Jupiter has just acquired the decentralized finance (DeFi) wallet Ultimate Wallet amid plans to launch a zero-fee mobile trading platform in May. In a series of posts on social media platform X, Jupiter says the acquisition is part of a strategy to get more people into crypto.

Top Solana DEX Jupiter Eyes Mobile Trading With Acquisition of DeFi Wallet App

Bonk

A Solana-based (SOL) meme asset has nearly doubled up just days after its community overwhelmingly passed a resolution to burn its supply. In a new announcement on the social media platform X, the decentralized autonomous organization (DAO) for memecoin Bonk (BONK) says it has voted to reduce the token's supply by billions.

Solana-Based Memecoin Erupts Over 90% in Days After Community Overwhelmingly Votes To Reduce Supply

Natix, a DePIN project focused on mapping data, has raised $4.6 million ahead of its token launch and airdrop on Solana.

DePIN project Natix raises funds ahead of token launch and airdrop on Solana

dogwifhat

Major Solana meme coins BONK and WIF are on fire, posting considerable jumps in the last 24 hours despite the broader market correction.

Solana Dog Coins Have Their Day as BONK and WIF Post Big Price Gains

Solana's (SOL) upward correction is running into resistance at the 21-day SMA. Price analysis by Coinidol.com.

Solana Price Recovers But Encounters Resistance At $159

A closely followed analyst is predicting an imminent massive breakout for Ethereum (ETH) competitor Solana (SOL). Pseudonymous analyst Bluntz tells his 256,800 followers on the social media platform X that SOL appears to be printing a bullish pattern on the four-hour chart, setting higher lows.

Top Trader Predicts ‘Violent Breakout' for Solana, Says One Crypto Asset Looks Like Best Memecoin

Jupiter, the Solana-based decentralized exchange (DEX) aggregator, revealed its acquisition of self-custody crypto wallet firm Ultimate Wallet on Tuesday.

Solana DEX Aggregator Jupiter Acquires Ultimate Wallet to Drive Mobile Expansion

A closely followed crypto strategist believes that one memecoin is ready to witness mostly bullish price action. Pseudonymous analyst Inmortal tells his 212,700 followers on the social media platform X that Floki (FLOKI) looks primed to ignite bursts to the upside.

Crypto Trader Says Leading Memecoin About To Move ‘Up Only,' Updates Outlook on Solana, Celestia and One Altcoin

Jupiter is aiming to onboard millions more users with mobile push it announced alongside acquisition of Ultimate Wallet.

Solana DEX aggregator acquires Ultimate Wallet as part of mobile push

Bankrupt crypto exchange FTX will auction off the rest of its locked Solana tokens in the hopes of getting a better price.

FTX Will Auction Off the Rest of Its Locked Solana Tokens

Bankrupt cryptocurrency exchange FTX is preparing to offload more of its locked Solana (SOL) tokens through an auction, diverging from its previous method of selling at a set price, as announced by Mike Cagney of Figure Markets. This decision follows FTX's recent sales of SOL tokens, amounting to approximately $1.9 billion and $2.

FTX Estate Plans Auction for Locked Solana Tokens

The FTX estate will conduct the next sale of locked Solana (SOL) tokens in the form of an auction rather than a fixed-price sale.

FTX Estate Plans Auction for Next Lot of Locked Solana Tokens

A crypto-skeptical professional OnlyFans creator discusses what it would take for him to join Only1, a similar platform on Solana.

Only1 has raised $5 million to build an OnlyFans clone on Solana, but will creators join?

Investors are hoping to score the chance to purchase Solana tokens from the FTX estate at a steep discount, though the tokens are locked.

FTX to sell next lot of locked Solana tokens at auction

Solana developers have successfully pushed a series of fixes to address network congestion issues. On April 15, Solana urged validators to update to v1.17.31, a version that changes how certain validators are treated depending on their stake.

Solana Developers Deploy Fixes to Mainnet to Address Network Congestion

Bitcoin was the biggest story coming into the weekend, but hype around the halving hasn't fueled a price surge—not yet, at least.

Solana, Ethereum Meme Coin Prices Blast Off as Bitcoin Stays Steady After Halving

A crypto whale that's been dabbling in Solana (SOL)-based memecoins has become the largest holder of a dog-themed altcoin. First spotted by blockchain tracking firm Lookonchain, a deep-pocketed entity has accumulated $4.29 million worth of PUPS, a cartoony animal-themed meme token.

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

BlockDrop Coin operates as a cutting-edge cryptocurrency that allocates mining rewards to token holders via weekly airdrops, simplifying access to the mining economy. Historically, the entry barriers to profitable Bitcoin mining have steadily increased, pushing individual miners and small operators to the periphery of the Bitcoin mining economy.

News for Solana Crypto (SOL)